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Luxury designer brand Vera Wang has sold its intellectual property to New York-based brand management firm WHP Global. The partnership, announced Monday, marks the creation of WHP's new premium fashion vertical, which already includes brands like Rag & Bone, Joe's Jeans, and G-Star.

While the financial terms were not disclosed, Vera Wang will retain her role as founder and chief creative officer of the brand. Additionally, she will join WHP Global as a shareholder.

Expanding a Legendary Brand

"WHP Global is honored to partner with Vera Wang," said Yehuda Shmidman, WHP Global's CEO and chairman. "Her name is synonymous with modernity, artistry, and impeccable style. We look forward to building on the brand's remarkable legacy with new business opportunities around the world."

Currently, the Vera Wang brand generates over $700 million in annual retail sales through a diverse portfolio that includes women’s apparel, bridalwear, men’s tuxedos, fine jewelry, fragrance, and home goods.

For WHP Global, which manages over $7 billion in yearly global retail sales across its portfolio, acquiring Vera Wang's intellectual property underscores its commitment to premium fashion and scaling iconic brands into new markets and categories.

A New Chapter for Vera Wang

"I am thrilled to partner with WHP Global as we embark on an incredible new chapter for the Vera Wang brand," said Wang, who founded the label in 1990 after a successful career at Vogue and Ralph Lauren. "Together, we will push boundaries and explore bold opportunities to expand into new categories and markets while preserving the legacy of timeless sophistication and distinctive style that defines Vera Wang."

The deal is expected to close in January, pending customary conditions.

Legal Advisors

The deal is being steered by Gibson Dunn & Crutcher LLP, with a team led by corporate partners Kristen Poole and Steven Shoemate, IP partner Daniel Angel, tax partner Pamela Lawrence Endreny, and benefits partner Ekaterina Napalkova.

Information regarding WHP Global’s legal counsel was not immediately available.